The European Bank for Reconstruction and Development (EBRD) is supporting improvements in the energy efficiency of Egyptian private sector businesses, by providing a loan of US$ 15 million to the Arab African International Bank (AAIB).
Loans will cover investments in green technologies, such as thermal insulation, photovoltaic solar panels, geothermal heat pumps and water-efficient irrigation systems. Businesses can identify typical green technologies through the Technology Selector. The loans are complemented by EU funds to help companies identify the most efficient equipment or technologies and verify their use once they are installed.
In a further step, the Bank is supporting the import and export of green technologies under the EBRD’s Trade Facilitation Programme. Through the Programme, the Bank provides guarantees to international confirming banks, taking the political and commercial payment risk of international trade transactions undertaken by banks in the economies where it invests.Egypt is a founding member of the EBRD.
Since the start of its operations in the country in 2012, the Bank has invested over €5 billion in 99 projects in the country. In 2018, Egypt was the EBRD’s largest economy where the Bank invests, in terms of new commitments.